05/09/1979 Meeting - Laserfiche WebLink

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e Library. Manager recommended use of the county levy which was authorized recently and from which the city will receive about $120,000 each year for three years to acquire land near the downtown library. Office Space Development. Manager said this will be discussed next fall. It is being studied. EWEB has expressed some desire to sell the property across the street for parking and that might happen in June. Performing Arts Parking Addition. Manager noted this is of immediate concern. The first section will be discussed this evening and within a few weeks final action should be taken authorizing an addition of two and one-half stories which would be funded by revenue bonds and Downtown Development Board funds. Revenue bonds can be issued without voter approval. Downtown Development. Manager explained this is in the negotiating process with the hotel developers. ERA has authorized staff to sign a contract with a hotel developer. Three million dollars is available in tax increment funding. There are other opportunities for revenue bonds and other EDA funds. e Airport Terminal Expansion. Manager said will need an estimated $1,750,000 is needed of which $1 million would be federal funds. The GO bonds would be financed by Airport revenues. This is not a property tax impact matter. Early in 1981 is the tenative election date for airport terminal expansion. Arterials. Manager hoped to be getting State, County, and Federal funds. There would still be a need for GO bond issue. Fall is the time this item will be discussed Storm and Sanitary Sewer System Development. Manager noted next fall it will be decided how to finance storm sewer improvements along with street improvements. We are considering a user's fee for the sapitary collector system. Apart from the main plan there are mains under 24 inches in the collector's system that have to be developed. These could be bought through the system's development tax, service charges, revenue bonds, or perhaps assessment districts. This matter is fairly critical and has to be addressed in the next few months. - Manager noted by next Wednesday the ordinance for Park acquisition should be before the Council in order to appear on the June ballot. Mr. Hamel asked if the City would provide parking for the hotel. Mr. Kupper answered that it was a hotel and convention center. The City would probably spend for parking for the convention center. Mr. Delay asked Mr. Drapela about the figures for the conversion of the Parks serial levy to a general obligation bond. Would it be the same tax rate. Mr. Drapela said that they have reviewed it with the Finance Oepartment and had been assured that the figures were very close. 5/9/79--5 2~